Market outlook:
- trend is up on daily charts
- today nifty closed 1.2% in positive at 11301
- AD was 11:7
- swing low support 10600 resistance 11400/ 11500 (minor)
- strong support expected around 11000
5 min charts:
- traded long
- in these fast moving one side markets, there is really not much analysis to do
- just define the risk and enter the trade.
- doing mix of intraday and positional call options
- I am also continuing with my favourite strategy of writing OTM puts (covered). We are short in 11200, 11000 and 10800 puts which are hedged by a long position in put (100 points lower). Max profit is 30 points and max loss is 70 points per pair. So far loss looks unlikely and everything is in profit.
15 min charts:
- trend is up on daily charts
- today nifty closed 1.2% in positive at 11301
- AD was 11:7
- swing low support 10600 resistance 11400/ 11500 (minor)
- strong support expected around 11000
5 min charts:
- traded long
- in these fast moving one side markets, there is really not much analysis to do
- just define the risk and enter the trade.
- doing mix of intraday and positional call options
- I am also continuing with my favourite strategy of writing OTM puts (covered). We are short in 11200, 11000 and 10800 puts which are hedged by a long position in put (100 points lower). Max profit is 30 points and max loss is 70 points per pair. So far loss looks unlikely and everything is in profit.
15 min charts:
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